Showbiz
Michael Kors Acquires Luxury Fashion Brand, Versace, for $2.12b
By Dipo Olowookere
Global fashion luxury group, Michael Kors Holdings Limited, has signed a definitive agreement to acquire all of the outstanding shares of Italian luxury fashion house, Gianni Versace, for a total enterprise value of €1.83 billion or $2.12 billion.
Versace, long recognized as one of the world’s leading luxury fashion companies, is synonymous with Italian glamour and style.
A statement by Michael Kors disclosed that with the acquisition, it intends to grow Versace to $2.0 billion in revenues globally and build on the brand’s luxury runway momentum.
In addition, the firm plans to enhance Versace’s powerful and iconic marketing, increase global retail footprint from approximately 200 to 300 stores, accelerate e-commerce and omni-channel development, and expand men’s and women’s accessories and footwear from 35 percent to 60 percent of revenues.
It was disclosed that the acquisition of Versace is expected to deliver a number of benefits for Michael Kors by helping it grow the group’s revenues to $8 billion in the long-term, expand the global luxury group to include three iconic founder-led brands defined by fashion luxury products with a reputation for world-class design and innovation.
Also, the deal is expected to diversify Michael Kors’ geographic portfolio from 66 percent Americas to 57 percent Americas, 23 percent Europe to 24 percent Europe, 11 percent Asia to 19 percent Asia, and create a potential long-term operational synergies.
Commenting on the deal, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, Mr John Idol, said, “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand’s timeless heritage.
“We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth.
“With the full resources of our group, we believe that Versace will grow to over $2 billion in revenues. We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth.”
“Donatella’s iconic style is at the heart of the design aesthetic of Versace. She will continue to lead the company’s creative vision. I am thrilled to have the opportunity to work with Donatella on Versace’s next chapter of growth,” Mr Idol continued.
“This is a very exciting moment for Versace,” said Donatella Versace. “It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow.”
Donatella added, “Santo, Allegra and I will become shareholders in Capri Holdings Limited. This demonstrates our belief in the long-term success of Versace and commitment to this new global fashion luxury group.”
“Versace’s management team will continue to be led by Chief Executive Officer, Jonathan Akeroyd, who has been an instrumental partner to Donatella in driving growth and success for Versace worldwide,” added John D. Idol. “He and Donatella have assembled strong senior management and design teams that will continue to lead Versace into its next chapter. We are extremely fortunate to be able to acquire such an extraordinary brand with an incredibly talented team.”
Jonathan Akeroyd, Chief Executive Officer of Versace, said, “Since I joined Versace over two years ago, our focus has been on leveraging the company’s heritage and strong brand recognition worldwide, which has allowed us to experience significant growth in all regions. Donatella’s unmatched vision has led to the continued and growing success of our brand. I am thrilled to be joining Capri Holdings Limited, which will be instrumental in accelerating our growth globally.”
By Modupe Gbadeyanka
A fatal auto crash has claimed the life of a Nigerian actor, Mr Adesina Okiki, otherwise known as Janmole.
The death of the thespian was confirmed on Tuesday by the president of the Theatre Arts and Motion Pictures Practitioners Association of Nigeria (TAMPAN), Mr Abolaji Amusan, popularly known as Mr Latin.
In a post on his Facebook page today, the comic actor said, “May the soul of our departed colleague, Adesina Okiki Janmole, who tragically lost his life in an accident, rest in perfect peace.
“May God grant his family, friends, and colleagues the strength and comfort to bear this irreparable loss. He will be greatly missed. Amen.”
The demise of this comedian and filmmaker comes a few weeks after the Nigerian film industry lost Alexx Ekubo to cancer.
During his lifetime, Janmole, who died in a road accident on Monday, acted in several movies. He was known for his humour, screen presence and contributions to the Yoruba movie industry.
About four years ago, he survived a fire incident along the Lagos-Ibadan Expressway, an experience many believed he had narrowly escaped.
By Aduragbemi Omiyale
Lovers of the popular Big Brother Naija (BBNaija) reality television show will have the opportunity to watch the BBNaija Season 10 Reunion Show.
The programme, to be hosted by media personality, Mr Ebuka Obi-Uchendu, will premiere on Monday, 8 June 2026, at 10 pm WAT on Africa Magic Showcase (DStv Channel 151 | GOtv Channel 8) and Africa Magic Family (DStv Channel 154 | GOtv Channel 7), with each episode available on the DStv Stream and GOtv Stream apps the following day.
The reunion show will feature all 29 housemates. Fans can follow all reunion updates using the hashtag #BBNaijaReunion across social media platforms and Africa Magic for exclusive clips and behind-the-scenes content.
On October 5, 2025, the BBNaija Season 10 came to an end, with Opeyemi Ayanwale, popularly known as Imisi, emerging champion with 42.84 per cent of the public votes.
The 23-year-old fashion designer and actress from Oyo State walked away with a grand prize of N150 million, including N80 million in cash and a brand-new Innoson SUV.
The reunion is expected to address several unresolved storylines from the season, including the disqualification of housemate Faith in the final week following a physical altercation with Sultana. The season also produced some of its most viral moments in years, including a spoon-related standoff that dominated X for days and a series of romantic entanglements that split fan bases across the continent.
Season 10 was considered one of the most exciting editions of the show to date, introducing the Bag of Big Twists, a red telephone delivering random instructions from Biggie, a restructured Head of House challenge and an Influential Player of the Week feature.
With plans for a new season already in motion, the BBNaija 10 over 10 reunion show is set to officially close conflicts, encourage clarifications and allow the housemates to lay it all bare to the viewers and themselves one last time.
The heat in the MasterChef Nigeria kitchen never lets up, and this week the remaining home cooks were served a double helping of pressure with a Blind Taste Test followed by their very first Mystery Box Challenge.
Following Demilade’s dramatic exit the previous week, seven hopefuls returned to the kitchen knowing that any mistake could leave their MasterChef dreams overcooked.
The first challenge on the menu was a Blind Taste Test, where the contestants had to identify a variety of fruits and vegetables using only their palates. It was a particularly nerve-racking challenge for David, who admitted he doesn’t always trust his taste buds. However, he rose to the occasion, joining Loye and Favy in correctly identifying the ingredients and securing a coveted spot on the gantry.
That left Preye, Derry, Fads and Isabella fighting to keep their aprons in the competition.
The home cooks then had to face their first-ever Mystery Box Challenge, where creativity, execution and composure were all put to the test. When the judges tasted their way through the dishes, Isabella and Preye found themselves at the bottom of the pack.
Ultimately, it was Preye’s Roasted Sirloin with Butternut Squash that failed to hit the mark, bringing his MasterChef Nigeria journey to an end.
Derry proved once again why she has earned the nickname “Daring Derry.” Unfazed by the Mystery Box Challenge, she served up a dish that impressed the judges from presentation to palate. Her thoughtful plating, technical execution and well-balanced flavours earned her the coveted Dish of the Day title.
Meanwhile, Fads – affectionately known as the “Cat Woman” for her remarkable ability to land on her feet – continued her fight in the competition. Her Plantain Tacos showcased ingenuity and secured her safety from the bottom two. While the judges appreciated the effort, Chef Eros reminded her that the competition is entering a critical stage, saying: “This is the MasterChef kitchen and I expect MasterChef results.”
At first glance, Preye appeared to have delivered a winning plate. The judges praised the presentation, with the dish drawing comparisons to something one might find in a charming French bistro.
However, in the MasterChef Nigeria kitchen, appearances only get you so far.
The mood quickly shifted when Chef Eros cut into the sirloin steak. Sensing trouble, he quietly removed his glasses before revealing the verdict: the steak was undercooked.
It proved to be a costly mistake. In the MasterChef kitchen, there are few offences more serious than serving food that is raw or burnt. Despite the promise shown in the dish, the undercooked steak ultimately sealed Preye’s fate and brought his MasterChef Nigeria journey to an end.
With the stakes rising and the margins between success and elimination becoming ever smaller, the remaining home cooks know that every plate must now be worthy of the MasterChef title.
The show airs weekly on Sundays at 7 pm on Africa Magic Showcase and Africa Magic Family, with rebroadcasts on Wednesdays at 6 pm on Africa Magic Showcase and Thursdays at 12 pm on Africa Magic Family.
Next week, the MasterChef Nigeria kitchen welcomes special guest judge Chef Tosan for a challenge that is guaranteed to test the home cooks in a whole new way.
With baking on the menu, confidence quickly gives way to nerves as the remaining contestants face one of the most feared disciplines in the culinary world. Unlike cooking, where intuition can often save the day, baking demands precision, patience and flawless execution.
As temperatures rise and tensions simmer, the home cooks must prove they can handle the pressure and deliver bakes worthy of the MasterChef title. Who will rise to the occasion, and whose hopes will crumble under the weight of the challenge?
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